Jubril Arogundade, a former executive at CIG Motors, has clarified that he voluntarily resigned from his position on December 2, 2025, refuting claims of termination. This statement aims to correct public misinformation surrounding his departure from the automotive company. Mr. Arogundade stated that his resignation was submitted in writing and acknowledged by management, adhering to contractual obligations and company procedures. He emphasized that any portrayal of his exit as a termination is factually inaccurate. The decision to resign, according to Arogundade, stemmed from significant and long-standing concerns regarding corporate governance, financial discipline, and regulatory compliance within CIG Motors. He indicated that these issues were raised through appropriate internal channels over an extended period, aligning with his responsibilities as a senior executive committed to ethical business practices. What is corporate governance? Corporate governance refers to the system of rules, practices, and processes by which a company is directed and controlled. It is an essential framework for maintaining accountability, fairness, and transparency in a company’s relationship with its stakeholders, including shareholders, management, employees, and customers. Key issues cited by Arogundade included persistent gaps in corporate governance, such as a lack of adequate internal controls and oversight mechanisms. He also pointed to a growing and unsustainable debt profile, driven by repeated borrowing without proper long-term financial structuring. Furthermore, ongoing regulatory and compliance challenges, including unresolved tax and statutory obligations, contributed to his decision. Arogundade maintained that his departure was guided by principle and professional responsibility, particularly in situations where continued association might conflict with his personal values and standards of corporate accountability. He stressed his commitment to Nigerian professional standards concerning governance, compliance, and institutional responsibility. When internal efforts to address these critical matters did not result in the necessary corrective actions, he chose to resign rather than compromise on standards he believes are fundamental to sustainable business operations. This principled stand highlights a dedication to upholding integrity in professional conduct. Responding directly to allegations circulating publicly, Jubril Arogundade categorically denied any claims of financial impropriety or misconduct during his tenure. He expressed an openness to any lawful, independent, and objective review of his conduct while employed at CIG Motors, stating he has nothing to hide. He further clarified that, contrary to public insinuations, he has not been contacted by any law enforcement or regulatory agency concerning these allegations. Arogundade remains fully available to cooperate should any legitimate inquiry arise, underscoring his confidence in his professional record. During his time at CIG Motors, Arogundade played a significant role in advancing the company’s operations in Nigeria. His contributions were particularly impactful in areas of local capacity development, employment of Nigerian professionals, operational expansion, and enhancing brand visibility within the automotive sector. Under his leadership and strategic involvement, CIG Motors received several notable industry recognitions. These accolades included the Most Innovative Automotive Brand of the Year (Brandcom Awards 2024), Most Innovative Automobile Brand of the Year (Brandcom Awards 2023), and 2023 Auto Company of the Year (Champions Award 2024). He also supported initiatives aligned with Nigeria’s industrial growth objectives, fostering stronger local partnerships and contributing to the company’s recognition both on national and international stages. These achievements underscore a professional record built on credibility, competence, and dedicated service. Arogundade disclosed that he has initiated appropriate steps through legal and professional channels to safeguard his reputation and address the dissemination of false or misleading information. He urged media organizations and commentators to uphold the principles of fairness, balance, and responsible journalism in their reporting. Reputations are meticulously built over many years and should not be easily undermined by inaccuracies or premature judgments. He expressed trust that the truth, when properly examined and presented, will ultimately speak for itself, providing a clear picture of the events. The former CIG Motors executive’s clarification underscores the importance of accurate reporting and the professional responsibility of individuals to set the record straight when faced with misinformation. His detailed explanation provides context for his departure and reaffirms his commitment to ethical business practices.
